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July 2007
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HSA Market News, July 2007; Volume 4, Number 7
HSA bank deposits top $1.9BB…CDHP gains slowing…Bal calls for price transparency…Chart: Top HSA banks…Humana posts Smart plan gains…Aetna HSA, HRA lives up 48%...United posts CDHP growth…Humana offers ‘no worry’ plan…HRA contributions average $214 PMPM…Workers confused by healthcare…Bancorp to buy debit card unit…Metavante wins Harris pact…HSA Council taps Gandolfo…and more…
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TOP BANKS HAVE $1.9 BB IN HSA DEPOSITS
Twenty-two leading banks had 1.413 million health savings accounts with an estimated $1.942 billion in total deposits as of June 30, 2007, according to a tally by HMN.
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MEDCO SURVEY SAYS CDHP GAINS SLOWING
A national survey of employer groups covering between 1000 and 15,000 lives shows that most will not be offering consumer directed health plans as a benefit option in the next few years.
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BAL CALLS FOR PRICE TRANSPARENCY
Raj Bal, chief operating officer of Assurant Health (Milwaukee), called upon hospitals and physicians to start providing consumers with transparent pricing information.
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AETNA 1Q07 HSA, HRA LIVES RISE 48% TO 910,000
Aetna Inc. (Hartford, CT) said it had 960,000 members in its HealthFund family of HSA and HRA-compatible high deductible health plans as of June 30, 2007, up 55% from the same period a year earlier.
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UNITEDHEALTH REPORTS CDHP GAINS
UnitedHealth Group (Minnetonka, MN) continues to report gains in its consumer-directed healthcare operations, adding 355,000 CDHP members in the first half of 2007.
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BANCORP TO BUY DEBIT CARD UNIT FOR $60.6 MILLION
Bancorp Inc. (Wilmington, DE), which operates The Bancorp Bank, announced an agreement to acquire Stored Value Solutions, the debit card division of South Dakota-based BankFirst, for $60.6 million in cash and stock.
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HUMANA LAUNCHES “NO WORRY” PLAN
Humana (Louisville, KY) is offering a new health insurance product in Michigan and southeastern Wisconsin aimed at helping small employers (51-99 employees) move to a high-deductible health plan over a three-year contract.
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METAVANTE WINS HARRIS HSACONTRACT
Metavante Corp. (Milwaukee), a unit of Marshall & Ilsley Corp., has won a contract to provide technology and back office support to Harris N.A. for its recently launched Harris HSA. Harris is the third-largest bank in the Chicago area.
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